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April 2, 2008

What is the Sound of One Hedge Fund Clapping?

This is sort of a zen question: What strategy does a hedge fund manager follow who has lost his fund because of investor redemptions? The answer forthwith:

Daniel Zwirn, the New York-based manager who is shutting down a $4 billion hedge fund because of investor withdrawals, plans to start a new fund, according to four people with knowledge of the situation.

Oh, and what strategy will that one follow?

The fund, slated to be called ZLC Global Investments, will focus on companies that have trouble getting financing from other sources ...

How appropriate, in the circumstances.

[via Bloomberg]

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